Complete video at: http://fora.tv/2009/03/12/Gov_Arnold_Schwarzenegger_on_Californias_Budget_Crisis California Governor Arnold Schwarzenegger explains how his rainy day fund would limit state spending and set aside surplus money for leaner times. "We need this discipline," he says, illustrating his point with an example involving dog food and tax revenues. ----- Now it's your turn. California's fiscal melodrama is headed to voters in a special May election. Governor Schwarzenegger and legislators in both parties say the spending cap and four other ballot measures are necessary to solve the state's $42 billion budget crisis. Critics on the Left and Right say pieces of the complex package are flawed, creating unusual alliances. After years of fiscal brinksmanship, nearly all agree structural reform is needed to make California governable again. - Commonwealth Club of California Arnold Schwarzenegger is an Austrian-American bodybuilder, actor, businessman, and politician, currently serving as the 38th Governor of the state of California. In May 2004 and 2007, he was named as one of the Time 100 people who help shape the world. Schwarzenegger is married to Maria Shriver and has four children.
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